Pre-orders for NVIDIA's Shield opened up last month, starting at $349 for the portable gaming console. We've received no word yet regarding the amount of pre-orders the company received, but they've already decided to slash prices on the device.

Effective immediately, the Shield will retail for just $299, with pre-orders still open on the company's site. Customers who had already pre-ordered will only be charged the new price, making the Tegra-powered Shield a more appealing option.

Over the past week, both Microsoft and Sony unveiled pricing for their next-gen consoles, with the Xbox One and PS4 retailing for $499 and $399 respectively. Consequently, NVIDIA may have been pressured into reducing their margins, as users might simply have forked over an extra $50 and opted for a PS4.

The Shield features a 1.9 GHz Tegra 4 CPU, 16GB of storage and the ability to stream games over an NVIDIA powered CPU. An official release date hadn't been confirmed previously, but we now know that the Shield will ship out on the 27th of June.